"Sachin Bansal, CEO and co-founder of Flipkart, will be the Executive Chairman of the company and Binny Bansal, COO and co-founder of Flipkart, will be the Chief Executive Officer," Flipkart said in a statement.

In his role as the Executive Chairman, Sachin will provide strategic direction and mentor the senior leadership as also look for new investment opportunities.

While, Binny as the CEO will now be responsible for operationally driving the company and be accountable for Flipkart's overall performance.

Sachin, who will continue to be the Chairman of the Board, will play an active role in championing the Indian e commerce sector and building the internet ecosystem and represent the company in external forums.

Mukesh Bansal will continue to be the head of commerce platform and will have additional responsibility of the ads business. He will also continue as the Chairman of Myntra.

Binny Bansal said the company is in a very strong leadership position with over 60 per cent market share of the m-commerce market, 50 million customers and clear leadership in smartphones and fashion.